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News > Companies
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AT&T sells rest of wireless
graphic December 25, 2001: 10:44 a.m. ET

No. 1 long-distance provider gives up remaining wireless stake.
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  • AT&T: Value Lover's delight
  •  AT&T"s hang-ups
  • Comcast wins AT&T special
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  • AT&T
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    NEW YORK (CNN/Money) - AT&T Corp., the No. 1 long-distance telephone company that recently accepted Comcast's bid for its cable television unit, has sold off its remaining stake in AT&T Wireless for about $1.2 billion.

    New York-based AT&T (T: Research, Estimates) sold about 91 million shares at prevailing market prices in the third-largest U.S. wireless telephone company, the company said Monday.

    AT&T spun-off part of the unit as a separate company in July. Since then, it has been auctioning off its assets in a bid to shrink about $65 billion in debt.

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    Last week's deal with Comcast (CMCSK: Research, Estimates) concluded an almost five-month battle between a host of suitors for the cable TV business, the nation's biggest. Comcast, the No. 3 cable operator, agreed to buy the business for about $47 billion in stock.

    Shares of AT&T Wireless (AWE: Research, Estimates) shed 9 cents to $13.29 Monday in a shortened session on the New York Stock Exchange. graphic

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